Solution to our debt.

[Bryan Luhning]

One cannot be a millionaire making a slave wage like $20 an hour. Not possible.

Sure they can. In fact, you can end up a millionaire making half that.

Lets say you don't go to college, and you get married, and start working at Walmart at age 20.

So lets do the math.

$10 an hour, is of course $400 a week. Let's say you put just 10% into stock mutual fund that gets about a 10% rate of return. I personally invest in 3 mutual funds that do 12%, 13% and 15% respectively. So 10% return on investment isn't difficult.

View attachment 441460

If you work consistently at Walmart for just $10/hour, from age 20 to 67, at age 67, you would retire with $2 Million dollars.

Of course this graph showing how much money you would have at retirement is completely inaccurate for two specific reasons.

Reason 1: Walmart has a 401K stock matching program, which matches dollar for dollar, the first 6% if your investment.

That means if you invested 10%, you would end up putting in not $40 a week, but rather $64 a week, or $256 a month.

You would end up not with $2 Million, but more like $3.3 Million.

Reason 2: Walmart specifically has a Walmart Employee stock purchase program, where you can buy Walmart stock at a very low price.

So when you add that benefit into the already massive $3 Million plus from your 401K... yes you can very easily end up a millionaire working for low wages.

Again... it's all in spending less money, than you make. It's that simple.

Could you give your lessons to Congress, especially the last paragraph. Another useful tool in retirement is a ROTH IRA it grows tax free on money that has already been taxed. So until the repeal it the money can be withdrawn tax free after you reach 59.5. A standard 401K does have a gotcha when you reach 70.5 you must take a minimum distribution which is based on a formula according to the value at the start of the year.

 

[otto105]

Cancel our debt to China as partial payment for the pandemic.

Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.

The US national debt is $28 Trillion.

So, not going to solve our problem, is it?

Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.

The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.

Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.

We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.

If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.

Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.

You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.

It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.

Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.

If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.

Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?

Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.

A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".

 

[Andylusion]

He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.

LOL...

As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.

You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.

No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.

Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.

American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.

American Apparel

Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.

americanapparel.com

As always, your post is crap.

What are you smoking? Do you know anything at all about American Apparel?

American Apparel has filed for bankruptcy in the US

American Apparel had not made a profit since 2009

www.independent.co.uk

American Apparel had not made a profit since 2009.​

​

The retailer said the restructuring will slash debt by $165 million (£108.4 million) to $135 million by eliminating $200 million in bonds in return for equity in the revamped company.​

American Apparel starts laying off 2,400 workers in Southern California

American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.

web.archive.org

Canadian clothing maker Gildan Activewear won an auction in bankruptcy court last week to buy the American Apparel brand and some manufacturing equipment for $88 million. The company will not assume American Apparel’s leases on its factories.​

The new American Apparel: claims of 'ethically made' abroad clash with reality

The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experience

www.theguardian.com

Under a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.​

Candy.... That post you made, explains to me how left-wing politicians are able to dupe so many non-thinking lemmings into doing whatever they say.

You just posted a link to American Apparel, claiming they made clothing in downtown LA.

The reality is, American Apparel lost money for years on end, went bankrupt, sold off all their American factories, and all their clothing is made in Honduras and Nicaragua.

But you read a internet post, or the companies web site, that said "Ethical Sweatshop free".

Right? You just bought that, without thinking, without questioning?

You know those Trumpers that believed the election was stolen because Trump said so, without thinking, without questioning? You are no better. You are just like them. You just proved it, with that post.

 

[Andylusion]

One cannot be a millionaire making a slave wage like $20 an hour. Not possible.

Sure they can. In fact, you can end up a millionaire making half that.

Lets say you don't go to college, and you get married, and start working at Walmart at age 20.

So lets do the math.

$10 an hour, is of course $400 a week. Let's say you put just 10% into stock mutual fund that gets about a 10% rate of return. I personally invest in 3 mutual funds that do 12%, 13% and 15% respectively. So 10% return on investment isn't difficult.

View attachment 441460

If you work consistently at Walmart for just $10/hour, from age 20 to 67, at age 67, you would retire with $2 Million dollars.

Of course this graph showing how much money you would have at retirement is completely inaccurate for two specific reasons.

Reason 1: Walmart has a 401K stock matching program, which matches dollar for dollar, the first 6% if your investment.

That means if you invested 10%, you would end up putting in not $40 a week, but rather $64 a week, or $256 a month.

You would end up not with $2 Million, but more like $3.3 Million.

Reason 2: Walmart specifically has a Walmart Employee stock purchase program, where you can buy Walmart stock at a very low price.

So when you add that benefit into the already massive $3 Million plus from your 401K... yes you can very easily end up a millionaire working for low wages.

Again... it's all in spending less money, than you make. It's that simple.

Could you give your lessons to Congress, especially the last paragraph. Another useful tool in retirement is a ROTH IRA it grows tax free on money that has already been taxed. So until the repeal it the money can be withdrawn tax free after you reach 59.5. A standard 401K does have a gotcha when you reach 70.5 you must take a minimum distribution which is based on a formula according to the value at the start of the year.

And that really is not even a problem. Just because you must take a minimum distribution, does not mean you can't...... just invest it in stocks.

You can take whatever your distribution is, and just funnel it back into stocks directly. It's not like you can't invest without a 401K. You could just take the 401K mutual fund distribution, and just funnel it into a private mutual fund account, invested in whatever you want.

But even, at age 70.5, I would hope you are doing some charity or world cruises, or so on. I can't think of why you would want to keep investing at age 70. By the time you get any decent return, you are dead.

And if you don't have a retirement egg built by age 70, you'll be working until you die anyway.

 

[Andylusion]

Cancel our debt to China as partial payment for the pandemic.

Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.

The US national debt is $28 Trillion.

So, not going to solve our problem, is it?

Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.

The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.

Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.

We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.

If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.

Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.

You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.

It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.

Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.

If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.

Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?

Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.

A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".

The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.

Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.

Protestant work ethic - Wikipedia

en.wikipedia.org

A conservative that believes in taking what others earned.... just simply isn't a conservative.

That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.

Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.

 

[Turtlesoup]

The quick and easy solution is in forcing the very wealthy to pay the debt.
Had they been paying their fair share all along the situation wouldn't even exist.

Trump was born of income inequality in America that had resulted in poverty for the working class.

Hitler was born out of the people's poverty.

In both cases a minority was blamed and the murders could begin.

Has America been saved from the problem by the election of Biden and the ousting of Trump.

No! America's problems are much deeper than anything the two main rightist parties can fix.

Trump was just a symptom of the much greater problem and that will now start to become obvious with the fall of Trump's evil regime.

Hitler was a socialist and Trump is anti socialist who tried to save our country from the race hos like Pelosi, AOC, and the HO harris....

 

[candycorn]

Cancel our debt to China as partial payment for the pandemic.

Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.

The US national debt is $28 Trillion.

So, not going to solve our problem, is it?

Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.

The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.

Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.

We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.

If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.

Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.

You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.

It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.

Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.

If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.

Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?

Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.

A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".

The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.

Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.

Protestant work ethic - Wikipedia

en.wikipedia.org

A conservative that believes in taking what others earned.... just simply isn't a conservative.

That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.

Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.

Did the farmers give back their billions in subsidies and bailout monies? Or is Iowa, Kansas and Nebraska full of flaming liberals?

 

[otto105]

Cancel our debt to China as partial payment for the pandemic.

Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.

The US national debt is $28 Trillion.

So, not going to solve our problem, is it?

Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.

The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.

Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.

We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.

If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.

Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.

You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.

It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.

Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.

If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.

Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?

Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.

A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".

The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.

Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.

Protestant work ethic - Wikipedia

en.wikipedia.org

A conservative that believes in taking what others earned.... just simply isn't a conservative.

That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.

Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.

That's just a fallacy.

I'm pretty sure the family that ran Purdue Pharma were conservatives.

The two failed US senators in GA used their senate committee positions to trade stocks BEFORE information was available to the public. Both conservatives...

 

[Andylusion]

Cancel our debt to China as partial payment for the pandemic.

Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.

The US national debt is $28 Trillion.

So, not going to solve our problem, is it?

Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.

The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.

Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.

We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.

If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.

Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.

You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.

It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.

Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.

If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.

Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?

Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.

One cannot be a millionaire making a slave wage like $20 an hour. Not possible.

Sure they can. In fact, you can end up a millionaire making half that.

Lets say you don't go to college, and you get married, and start working at Walmart at age 20.

So lets do the math.

$10 an hour, is of course $400 a week. Let's say you put just 10% into stock mutual fund that gets about a 10% rate of return. I personally invest in 3 mutual funds that do 12%, 13% and 15% respectively. So 10% return on investment isn't difficult.

View attachment 441460

If you work consistently at Walmart for just $10/hour, from age 20 to 67, at age 67, you would retire with $2 Million dollars.

Of course this graph showing how much money you would have at retirement is completely inaccurate for two specific reasons.

Reason 1: Walmart has a 401K stock matching program, which matches dollar for dollar, the first 6% if your investment.

That means if you invested 10%, you would end up putting in not $40 a week, but rather $64 a week, or $256 a month.

You would end up not with $2 Million, but more like $3.3 Million.

Reason 2: Walmart specifically has a Walmart Employee stock purchase program, where you can buy Walmart stock at a very low price.

So when you add that benefit into the already massive $3 Million plus from your 401K... yes you can very easily end up a millionaire working for low wages.

Again... it's all in spending less money, than you make. It's that simple.

What is this persons take home pay? Where do they live? Mom and Dad's house until they die. Never get married or have kids>

Who lives on $300wk and becomes a $3.3 millionaire?

Nice fantasy land. Nobody from Pottersville gets rich.

I just posted a guy that made $8 Million from working as a janitor.

A janitor secretly amassed an $8 million fortune and left most of it to his library and hospital

A one-time janitor and gas station attendant demonstrated that you can become a multimillionaire with a modest salary.

www.cnbc.com

That's not fantasy. That is documented fact.

As for people who work for a low wage, yeah I know a married couple right now that both work at McDonalds.

I would argue that no one should work on $300 a week. That's stupid. Go get a job that pays more.

And by the way, yes you can. I know, because I did.

Even if you work at McDonald's, you should if you are there for more than two years, be moving up the management ladder, and getting some skills to earn more money.

I knew a single lady who worked at Walmart, and got a degree, by using Walmarts tuition reimbursement program.

I'm not saying that you should stay living on $300 a week. But the fact remains that you can, and you can do so and become a millionaire, if you live on less than you make, and invest the money.

And you say "Who lives on $300wk and becomes a $3.3 millionaire?".... that's my point. That's my whole point, is that people don't. They spend more money than they make, and then complain they are poor.

That's stupid. People should stop blowing their money, and start investing. Stop spending more than they make, and start putting money in the bank. Stop borrowing money, and then looking like an idiot when they complain about the wealthy banks... when they are the people who made the banks wealthy.

Yes you can live on $300 a week. In other countries, people live on $3 a week. You can cut your life style, and spend less. You choose not to, and that's your choice. But you can do it.

A better option is to get a better job that pays more. But either way, you can be a millionaire on a low income. That is simply a mathematical fact.

 

[Andylusion]

He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.

LOL...

As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.

You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.

No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.

Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.

American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.

American Apparel

Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.

americanapparel.com

As always, your post is crap.

What are you smoking? Do you know anything at all about American Apparel?

American Apparel has filed for bankruptcy in the US

American Apparel had not made a profit since 2009

www.independent.co.uk

American Apparel had not made a profit since 2009.​

​

The retailer said the restructuring will slash debt by $165 million (£108.4 million) to $135 million by eliminating $200 million in bonds in return for equity in the revamped company.​

American Apparel starts laying off 2,400 workers in Southern California

American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.

web.archive.org

Canadian clothing maker Gildan Activewear won an auction in bankruptcy court last week to buy the American Apparel brand and some manufacturing equipment for $88 million. The company will not assume American Apparel’s leases on its factories.​

The new American Apparel: claims of 'ethically made' abroad clash with reality

The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experience

www.theguardian.com

Under a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.​

Candy.... That post you made, explains to me how left-wing politicians are able to dupe so many non-thinking lemmings into doing whatever they say.

You just posted a link to American Apparel, claiming they made clothing in downtown LA.

The reality is, American Apparel lost money for years on end, went bankrupt, sold off all their American factories, and all their clothing is made in Honduras and Nicaragua.

But you read a internet post, or the companies web site, that said "Ethical Sweatshop free".

Right? You just bought that, without thinking, without questioning?

You know those Trumpers that believed the election was stolen because Trump said so, without thinking, without questioning? You are no better. You are just like them. You just proved it, with that post.

Trump has filed for bankruptcy 6 times and you're in love with him....so this should make AA pretty attractive to you.

The bottom line is that Trump could have hired Americans...he hired Chinese people instead. He is no friend to the American worker.

Wow! Six times? Like a whole six? Out of how many businesses?

You realize that most successful people have gone broke, right?

https://www.billsbills.com/69-famous-people-who-filed-bankruptcy

Walt Disney went bankrupt.
Hersey went bankrupt.
Heinz went bankrupt.

Most successful people go bankrupt before they make it big. Not all, but most.

Trump has over 500 different businesses that he is engaged in. A total of 6, have gone bankrupt.

And even of those businesses that went bankrupt, I believe 3 of them were part of the fall of Atlantic City, where all the Casinos in that area failed, not just Trumps. Indicating that there was a change in the market, not the result of bad management.

People that complain about others who go bankrupt, are often just people who have never run a business in their whole life.

 

[candycorn]

He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.

LOL...

As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.

You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.

No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.

Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.

American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.

American Apparel

Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.

americanapparel.com

As always, your post is crap.

What are you smoking? Do you know anything at all about American Apparel?

American Apparel has filed for bankruptcy in the US

American Apparel had not made a profit since 2009

www.independent.co.uk

American Apparel had not made a profit since 2009.​

​

The retailer said the restructuring will slash debt by $165 million (£108.4 million) to $135 million by eliminating $200 million in bonds in return for equity in the revamped company.​

American Apparel starts laying off 2,400 workers in Southern California

American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.

web.archive.org

Canadian clothing maker Gildan Activewear won an auction in bankruptcy court last week to buy the American Apparel brand and some manufacturing equipment for $88 million. The company will not assume American Apparel’s leases on its factories.​

The new American Apparel: claims of 'ethically made' abroad clash with reality

The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experience

www.theguardian.com

Under a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.​

Candy.... That post you made, explains to me how left-wing politicians are able to dupe so many non-thinking lemmings into doing whatever they say.

You just posted a link to American Apparel, claiming they made clothing in downtown LA.

The reality is, American Apparel lost money for years on end, went bankrupt, sold off all their American factories, and all their clothing is made in Honduras and Nicaragua.

But you read a internet post, or the companies web site, that said "Ethical Sweatshop free".

Right? You just bought that, without thinking, without questioning?

You know those Trumpers that believed the election was stolen because Trump said so, without thinking, without questioning? You are no better. You are just like them. You just proved it, with that post.

Trump has filed for bankruptcy 6 times and you're in love with him....so this should make AA pretty attractive to you.

The bottom line is that Trump could have hired Americans...he hired Chinese people instead. He is no friend to the American worker.

Wow! Six times? Like a whole six? Out of how many businesses?

You realize that most successful people have gone broke, right?

https://www.billsbills.com/69-famous-people-who-filed-bankruptcy

Walt Disney went bankrupt.
Hersey went bankrupt.
Heinz went bankrupt.

Most successful people go bankrupt before they make it big. Not all, but most.

Trump has over 500 different businesses that he is engaged in. A total of 6, have gone bankrupt.

And even of those businesses that went bankrupt, I believe 3 of them were part of the fall of Atlantic City, where all the Casinos in that area failed, not just Trumps. Indicating that there was a change in the market, not the result of bad management.

People that complain about others who go bankrupt, are often just people who have never run a business in their whole life.

The bottom line is that Trump hired Chinese instead of Americans. He's no friend to the American worker.

 

[Andylusion]

Cancel our debt to China as partial payment for the pandemic.

Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.

The US national debt is $28 Trillion.

So, not going to solve our problem, is it?

Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.

The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.

Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.

We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.

If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.

Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.

You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.

It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.

Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.

If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.

Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?

Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.

A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".

The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.

Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.

Protestant work ethic - Wikipedia

en.wikipedia.org

A conservative that believes in taking what others earned.... just simply isn't a conservative.

That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.

Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.

That's just a fallacy.

I'm pretty sure the family that ran Purdue Pharma were conservatives.

The two failed US senators in GA used their senate committee positions to trade stocks BEFORE information was available to the public. Both conservatives...

That does not even make a logical connection. What does two Senators from GA trading stocks, have to do with conservatives and confiscating the wealth of others?

In your post, you said the conservative takes $9. I pointed out that fundamentally conservatives believe in earning money. Not taking it from others using government force.

Nothing you said changes that, or even addressed that.

Anyone can say they are anything. Anyone can say "I'm a conservative". Anyone can say they believe anything.

What matters is how you act. How you act in life, dictates what you are. That's all there is to it.

It is not a fallacy. If I tell you that I'm a vegan, and I have a membership card to the Vegan society, and then I go to the steakhouse..... am I vegan? Yes or no? No. Definition of vegan is someone who does not eat meat.

Definition of a conservative, has a specific meaning. If people are not living up to what conservative means, it doesn't mean conservatives stand for socialism now. It means the people doing those things, are simply not conservative.

Otherwise, I'm going to get a membership card to the national Vegan society, and go to the steakhouse tomorrow, and I can just say "Vegans eat steak. That's what they stand for, because I'm a member and I eat steak!".

Your position is the logical fallacy. Not mine.

 

[Andylusion]

Cancel our debt to China as partial payment for the pandemic.

Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.

The US national debt is $28 Trillion.

So, not going to solve our problem, is it?

Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.

The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.

Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.

We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.

If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.

Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.

You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.

It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.

Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.

If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.

Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?

Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.

A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".

The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.

Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.

Protestant work ethic - Wikipedia

en.wikipedia.org

A conservative that believes in taking what others earned.... just simply isn't a conservative.

That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.

Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.

Did the farmers give back their billions in subsidies and bailout monies? Or is Iowa, Kansas and Nebraska full of flaming liberals?

No, of course not. If you are stupid enough to give me your money, I'll take every dollar you are dumb enough to give me. Absolutely.

However from policy perspective, conservatives are against government subsidies of any kind.

But if your side wins the day, and offers for example, universal income benefits.... yeah I'll take your tax money. I'll vote against the policy until the day I die... but if you pass that socialist policy, I will quit my job, and soak you for every dollar I can get. You give me your cash, that's on you, not me.

But to the point, I've said this for years, that we should have no farm subsidies at all. That's one of the reasons conservatives opposed the Farm bill under Bush. And we opposed it under Trump.

Republicans Fume at Trump's $12 Billion Plan to Aid Farmers

"They want trade, not aid. It’s really just that simple"

time.com

“My thoughts are the thoughts of farmers. They want trade, not aid. It’s really just that simple,” said Senator Ron Johnson, a Republican from Wisconsin.

That right there.... Ron Johnson's position, is the conservative position.

Go back to 2008.

Conservative Republicans offer bailout alternative

A group of conservative Republicans in the U.S. House of Representatives offered a mortgage insurance plan on Thursday as an alternative to the Bush administration's $700-billion Wall Street bailout.

www.reuters.com

A group of conservative Republicans in the U.S. House of Representatives offered a mortgage insurance plan on Thursday as an alternative to the Bush administration’s $700-billion Wall Street bailout.

That right there, the private insurance model, as opposed to the tax payer funded bailout.... that is the conservative position.

We've been very consistent on this.

 

[candycorn]

Cancel our debt to China as partial payment for the pandemic.

Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.

The US national debt is $28 Trillion.

So, not going to solve our problem, is it?

Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.

The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.

Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.

We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.

If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.

Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.

You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.

It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.

Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.

If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.

Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?

Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.

A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".

The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.

Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.

Protestant work ethic - Wikipedia

en.wikipedia.org

A conservative that believes in taking what others earned.... just simply isn't a conservative.

That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.

Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.

Did the farmers give back their billions in subsidies and bailout monies? Or is Iowa, Kansas and Nebraska full of flaming liberals?

No, of course not. If you are stupid enough to give me your money, I'll take every dollar you are dumb enough to give me. Absolutely.

However from policy perspective, conservatives are against government subsidies of any kind.

But if your side wins the day, and offers for example, universal income benefits.... yeah I'll take your tax money. I'll vote against the policy until the day I die... but if you pass that socialist policy, I will quit my job, and soak you for every dollar I can get. You give me your cash, that's on you, not me.

But to the point, I've said this for years, that we should have no farm subsidies at all. That's one of the reasons conservatives opposed the Farm bill under Bush. And we opposed it under Trump.

Republicans Fume at Trump's $12 Billion Plan to Aid Farmers

"They want trade, not aid. It’s really just that simple"

time.com

“My thoughts are the thoughts of farmers. They want trade, not aid. It’s really just that simple,” said Senator Ron Johnson, a Republican from Wisconsin.

That right there.... Ron Johnson's position, is the conservative position.

Go back to 2008.

Conservative Republicans offer bailout alternative

A group of conservative Republicans in the U.S. House of Representatives offered a mortgage insurance plan on Thursday as an alternative to the Bush administration's $700-billion Wall Street bailout.

www.reuters.com

A group of conservative Republicans in the U.S. House of Representatives offered a mortgage insurance plan on Thursday as an alternative to the Bush administration’s $700-billion Wall Street bailout.

That right there, the private insurance model, as opposed to the tax payer funded bailout.... that is the conservative position.

We've been very consistent on this.

Yeah...your lie about conservatives wanting to "earn" money is crap...just like everything else you post.

 

[theHawk]

Maybe we could just be more fiscally responsible.

That’s why we elected Democrats. I can’t wait for their balanced budget proposal.

 

[Mac1958]

Maybe we could just be more fiscally responsible.

That’s why we elected Democrats. I can’t wait for their balanced budget proposal.

Doubtful, after what Trump has done. Too far to go.

 

[task0778]

Maybe we could just be more fiscally responsible.

That’s why we elected Democrats. I can’t wait for their balanced budget proposal.

Doubtful, after what Trump has done. Too far to go.

Trump was a populist. He sure as hell is/was not a conservative. But IMHO, your earlier post is correct: we should be more fiscally responsible. The interest we pay on the debt will soon be the largest budget item, and it will have to be paid. Some say we can just print or create more money; that is true, but at some point inflation takes over and that is when thing turn very ugly for everybody.

I think Andylusion nails it - as an individual or a society, you should live (spend) within your means. Making more money is good, but if you waste it on non-essential, non-production things then it's like cotton candy, when it's gone, it's gone and you got nothing to show for it.

 

[donttread]

He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.

LOL...

As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.

You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.

No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.

Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.

American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.

American Apparel

Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.

americanapparel.com

As always, your post is crap.

What are you smoking? Do you know anything at all about American Apparel?

American Apparel has filed for bankruptcy in the US

American Apparel had not made a profit since 2009

www.independent.co.uk

American Apparel had not made a profit since 2009.​

​

The retailer said the restructuring will slash debt by $165 million (£108.4 million) to $135 million by eliminating $200 million in bonds in return for equity in the revamped company.​

American Apparel starts laying off 2,400 workers in Southern California

American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.

web.archive.org

Canadian clothing maker Gildan Activewear won an auction in bankruptcy court last week to buy the American Apparel brand and some manufacturing equipment for $88 million. The company will not assume American Apparel’s leases on its factories.​

The new American Apparel: claims of 'ethically made' abroad clash with reality

The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experience

www.theguardian.com

Under a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.​

Candy.... That post you made, explains to me how left-wing politicians are able to dupe so many non-thinking lemmings into doing whatever they say.

You just posted a link to American Apparel, claiming they made clothing in downtown LA.

The reality is, American Apparel lost money for years on end, went bankrupt, sold off all their American factories, and all their clothing is made in Honduras and Nicaragua.

But you read a internet post, or the companies web site, that said "Ethical Sweatshop free".

Right? You just bought that, without thinking, without questioning?

You know those Trumpers that believed the election was stolen because Trump said so, without thinking, without questioning? You are no better. You are just like them. You just proved it, with that post.

Trump has filed for bankruptcy 6 times and you're in love with him....so this should make AA pretty attractive to you.

The bottom line is that Trump could have hired Americans...he hired Chinese people instead. He is no friend to the American worker.

That is the business envirnoment that corporate taxes, their holeholes and related lobbying created. Trump dropped corporate taxes ( which are always paid by the consumer) and manufacturing began to come back. Will Biden keep those taxes low? Poor people unemployment is driven by a lack of manufacturing so if he really cares there is only one choice. As for the bankrupcies, the rich and connected need to pass laws to make that kind of thing more difficult. That is super rich going bankrupt while their other business ventures are untouched.

 

[August West]

He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.

LOL...

As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.

You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.

No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.

Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.

American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.

American Apparel

Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.

americanapparel.com

As always, your post is crap.

What are you smoking? Do you know anything at all about American Apparel?

American Apparel has filed for bankruptcy in the US

American Apparel had not made a profit since 2009

www.independent.co.uk

American Apparel had not made a profit since 2009.​

​

The retailer said the restructuring will slash debt by $165 million (£108.4 million) to $135 million by eliminating $200 million in bonds in return for equity in the revamped company.​

American Apparel starts laying off 2,400 workers in Southern California

American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.

web.archive.org

Canadian clothing maker Gildan Activewear won an auction in bankruptcy court last week to buy the American Apparel brand and some manufacturing equipment for $88 million. The company will not assume American Apparel’s leases on its factories.​

The new American Apparel: claims of 'ethically made' abroad clash with reality

The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experience

www.theguardian.com

Under a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.​

Candy.... That post you made, explains to me how left-wing politicians are able to dupe so many non-thinking lemmings into doing whatever they say.

You just posted a link to American Apparel, claiming they made clothing in downtown LA.

The reality is, American Apparel lost money for years on end, went bankrupt, sold off all their American factories, and all their clothing is made in Honduras and Nicaragua.

But you read a internet post, or the companies web site, that said "Ethical Sweatshop free".

Right? You just bought that, without thinking, without questioning?

You know those Trumpers that believed the election was stolen because Trump said so, without thinking, without questioning? You are no better. You are just like them. You just proved it, with that post.

Trump has filed for bankruptcy 6 times and you're in love with him....so this should make AA pretty attractive to you.

The bottom line is that Trump could have hired Americans...he hired Chinese people instead. He is no friend to the American worker.

That is the business envirnoment that corporate taxes, their holeholes and related lobbying created. Trump dropped corporate taxes ( which are always paid by the consumer) and manufacturing began to come back. Will Biden keep those taxes low? Poor people unemployment is driven by a lack of manufacturing so if he really cares there is only one choice. As for the bankrupcies, the rich and connected need to pass laws to make that kind of thing more difficult. That is super rich going bankrupt while their other business ventures are untouched.

If ALL of the corporate taxes were paid by the consumer the corporations wouldn`t be constantly whining about them would they?Manufacturing has been coming back since 2013 when fracking lowered production costs here while the cost of energy rose 138% in China. Corporate tax rates have loopholes you can drive an Amtrak engine through.
The biggest corporate tax loopholes in the US tax code (lynda.com)

 

[Mr Natural]

A bit of both, cut spending and raise income.

The debt is still lower than what it was just after WWII, I think.

After WWII, we had tax brackets in the 90% range.